UMCU Financial Highlights
University of Michigan Credit Union
Consolidated Statement of Income and Expense (Unaudited)
June 30, 2010
| Interest Income | |
| Loans | $7,186,476 |
| Securities, Interest-bearing Balances with Other | |
| Financial Institutions and Time Deposits | 770,623 |
| Total Interest Income | 7,957,099 |
| Interest Expense | |
| Members' Deposits | 996,698 |
| Borrowed Funds | 44,286 |
| Total Interest Expense | 1,040,984 |
| Net Interest Income | 6,916,115 |
| Provision for Loan Losses | 1,530,011 |
| Net Interest Income after Provision for Loan Losses | 5,386,104 |
| Other Income | 2,421,637 |
| Other Expense | |
| Salaries and Employee Benefits | 3,560,915 |
| Office Operations | 1,682,813 |
| Occupancy | 602,689 |
| Loan Servicing | 715,034 |
| Other | 452,762 |
| Total Other Expenses | 7,014,213 |
| Net Income before NCUSIF Stabilization Expense | 793,528 |
| NCUSIF Stabilization Expense | 465,588 |
| Net Income (Loss) | $327,940 |
We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. Mortgage loan services provided by MemberFirst Mortgage LLC (NMLS #149532)
and UMCU (NMLS #712343)